According to the top financial regulator in the EU America?s restrictions on online gambling may be challenged by the European Union.

For many years online gambling laws in the USA were not clear enough for them to do anything about it, but after October when President George W Bush signed a law banning financial transactions for the purpose of gambling the law became very clear.

As a result of new American laws several British online gambling companies were forced out from the US market.

"In my view it is probably a restrictive practice and we might take it up in another fora," European Union Internal Market Commissioner told the European Parliament.

By banning online gambling the USA is protecting their own gambling industry which brings in hundreds of millions in taxes to the government.

Last week the US justice department informed some of the world?s larges investment banks open their books on dealing with online gambling firms.

The EU has said it will continue to put pressure on the USA until they change their unjust online gambling laws.

The EU Internal Market Commissioner told reporters that this was a classic case of the USA trying to protect its own interests and that the WTO was a possible venue to make this fight.